Industries on the verge of shutting down in Jammu

Published: Tuesday, February 17, 2009, 10:37 [IST]

Subscribe to Oneindia News

Samba/ Kathua, Feb 17 (ANI): Due to the modification of industrial economic package by the Government of Jammu and Kashmir in April 2008, many industries in Jammu are on the verge of shutting down causing a serious threat to the economic development of Jammu and Kashmir.

Around 100 factories have already shut down in Jammu, as they did not receive enough subsidies from the declared and later modified packages.

These developments have posed more problems and trends of more unemployment.

Further the prolonged militancy in the State has prompted industrialists to divert to Uttarakhand and Himachal Pradesh.

"In March, the package given to us had been withdrawn by the government. They modified it but it's clear withdrawal. The industries which were about to set up have all stopped their plans. This is a clear betrayal by the government," said Puneet Agarwal, a steelndustrialist.

Sarju Mittal, an industrialist feels that the economic package allotted in 2002 should have been allowed to continue till 2012, but modifying it in 2008 has led to alienation of industries in the region.

"The package which was given to Jammu and Kashmir should be revived. Same package given to Himachal and Uttaranchal has not been withdrawn. Now, industries have diverted their bases to Himachal and some to Uttaranchal. Off late big industries have been set up in Himachal Pradesh," said Sarju Mittal.

The new Government in the State headed by Omar Abdullah is yet to formulate a package for progressive economy of the State. By Pradeep Kumar Sharma (ANI)